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Do I Need a Lawyer to Make a Will?

Creating a will is crucial in ensuring that your wishes are respected, and your assets are distributed according to your preferences after your death. The question is often asked: “Do I need a lawyer to prepare my will?” The answer is that if you want to ensure that your will accurately encapsulates all your wishes and have the comfort of knowing that your will is legally binding and free from legality issues, then the answer is yes.

At Kingsford Lawyers, we work with you to ensure that your will reflects your true intentions, minimises the possibility of your will being contested and is executed.

What is a will?

In Australia, a will is a legal document that sets out how a person (the testator) wishes their assets to be distributed after their death. It can also appoint guardians for minor children and specify other final wishes, such as funeral arrangements. Key elements of a valid will in Australia include:

  1. Legal Age and Capacity: The testator must be at least 18 years old and have the mental capacity to understand the nature and effect of making a will.
  2. Written Document: The will must be in writing, either handwritten, typed, or printed.
  3. Signature: The testator must sign the will at the end of the document.
  4. Witnesses: The signature must be witnessed by at least two people who are present at the same time. The witnesses must also sign the will in the presence of the testator and each other. Witnesses should not be beneficiaries under the will to avoid conflicts of interest.
  5. Intent: The testator must clearly intend that the document is their will.

 

A will allows the testator to:

  1. Distribute their assets according to their wishes.
  2. Appoint an executor who will be responsible for administering the estate.
  3. Nominate guardians for minor children.
  4. Make specific gifts or donations to individuals or charities.
  5. Provide instructions for the care of pets.

If a person dies without a valid will (intestate), their estate will be distributed according to the intestacy laws of the state or territory in which they resided, which may not align with their personal wishes.

The Role of a Lawyer in Will Preparation

What Does a Will Lawyer Do?

A will lawyer specialises in estate planning and can guide you through the process of creating a will. They ensure that your document accurately reflects your wishes and complies with all legal requirements. Our lawyers can help identify potential issues, offer advice on complex family dynamics, and ensure that all aspects of your estate are covered.

Benefits of Hiring a Lawyer for Your Will

Hiring a lawyer to prepare your will offers several benefits:

  • Extensive experience: Lawyers deeply understand estate laws and can provide accurate, up-to-date advice.
  • Personalized and Professional Advice: They can tailor your will to your specific circumstances, addressing any unique needs or concerns.
  • Comprehensive Coverage: Lawyers ensure all potential issues are covered, reducing the risk of disputes after your death.
  • Legally Binding Document: Ensuring that your will is free from errors and omissions, which can prevent legal issues and disputes after your passing.
  • Protecting Your Estate: A well-drafted will can be your estate’s best defense against future disputes. Legal advice might cost more upfront but potentially saves money and heartache for your loved ones later on

Complex Situations Requiring Legal Experience

When to Definitely Consult a Lawyer for Your Will

You should consult a lawyer if:

  • Complex Family Dynamics: Blended families or estranged relatives can complicate wills.
  • Large Estates: Significant assets require careful planning to avoid disputes.
  • Business Ownership: Including business interests in your will requires specific legal language.

Handling Complex Family Dynamics and Large Estates

Lawyers can address these complexities by:

  • Customising Provisions: Tailoring the will to address specific family situations.
  • Detailed Planning: Ensuring all assets, including business interests, are properly distributed.
  • Mitigating Disputes: Reducing the potential for legal challenges by clearly outlining intentions.

Cost Considerations

The Cost of Hiring a Lawyer vs. DIY Options

Hiring a lawyer can be more expensive than DIY options, but the investment can prevent costly mistakes. Lawyers typically charge a flat fee or hourly rate for will preparation, which varies depending on the complexity of the estate.

Understanding the Value of Professional Legal Advice

Professional legal advice provides value by:

  • Preventing Errors: Reducing the risk of invalid wills or disputes.
  • Ensuring Compliance: Guaranteeing the will meets all legal requirements.
  • Peace of Mind: Providing confidence that your wishes will be honored.

Updating and Reviewing Your Will

The Importance of Regularly Updating Your Will

It’s important to update your will regularly to reflect changes in your life, such as:

  • Marriage or Divorce: Legal status changes can impact your will.
  • Births or Deaths: New beneficiaries or the passing of a named individual.
  • Significant Asset Changes: Acquiring or selling major assets.

How Lawyers Assist with Will Amendments and Reviews

Lawyers can assist with:

  • Amendments: Making changes to your existing will to reflect current wishes.
  • Regular Reviews: Ensuring your will remains up-to-date and valid.
  • Legal Compliance: Ensuring all changes comply with legal standards.

 

Hiring a lawyer to make your will provides numerous benefits, including expertise, personalized advice, and comprehensive coverage. While DIY options may be more affordable, they come with risks that could invalidate your will or lead to disputes. Regular updates and professional reviews ensure your will remains valid and reflects your current wishes. By understanding your options and seeking legal advice, you can create a will that protects your legacy and provides peace of mind.

Creating a will is a critical step in protecting your assets and ensuring your wishes are honored. Contact Kingsford Lawyers today at 1300 244 342 or send us an email at admin@kingsfordlawyers.com.au to learn more about how we can assist you in preparing a legally binding and comprehensive will.

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